Page 33 - P4403.59-V61_Numark Pharmacy Magazine Mar 25 PRINT 2_Neat
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Legal status Calculating costs
The first consideration is the legal Determining the right price for
status of the product and whether dispensary items involves a few key
it can be sold. steps:
• Prescription-Only Medicines 1. Wholesale Cost Analysis: Begin
(POMs) – These items require by examining the wholesale cost
prescriptions and cannot be sold. of the product. If you’re splitting
• Pharmacy Medicines (P) - a pack, calculate the cost for
These can be sold without a the portion you’re selling. For
prescription but must be sold example, a box of five Mepore
under the supervision of a Film dressings (15cm x 20cm) has
pharmacist. a cost price of £16.05, making
each dressing £3.21.
• General Sales List (GSL)
Medicines – These can be sold 2. Incorporating VAT: Unlike
without the supervision of a prescription items, dispensary
pharmacist. sales are not VAT exempt. There
are exceptions to this such as
Splitting packs VAT relief for disabled and older
Generally, if you order an item in people but currently VAT is 20%.
for a patient you expect them to To add this to the product price,
purchase the whole pack. However, multiply the cost by 1.2. Therefore,
you may decide to split items each Mepore Film dressing would
and sell individually. This decision cost £3.85 after VAT (£3.21 x 1.2).
hinges on several factors. Can the 3. Setting a Margin: Establishing
remaining items be used for future a margin is essential for
prescriptions or sales? For instance, profitability. For example, setting
individual dressings are generally up a 30% markup for each
versatile and can likely be sold to Mepore Film dressing this would
other customers. On the other hand, cost £5.05 (£3.85 x 1.3).
splitting Macrogol sachets might not Many pharmacy systems can
be practical if the remainder risks calculate the selling price of
expiring before it can be sold. dispensary stock. Check with your
Expiry dates provider to ensure that the mark-
It’s crucial to assess the expiry up within the system includes a
date of products. Remember even transaction cost that reflects the
dressings have expiry dates as the time your team spends with the
product may no longer be sterile customer. Setting the mark-up at
your preferred margin ensures your
pricing strategy aligns with your
business goals.
Future sales
Prices fluctuate over time. Before
selling an item again, verify its
current cost. Products like dressings
might sit on shelves for extended
periods, and their prices could
have increased since the last sale.
Regularly updating your pricing
ensures that your pharmacy remains
competitive and profitable.
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P4403.59-V61_Numark Pharmacy Magazine Mar 25.indd 33
P4403.59-V61_Numark Pharmacy Magazine Mar 25.indd 33 07/02/2025 11:52:46
